President Donald J. Trump has selected a political insider with extensive secondary marketing experience to run the Government National Mortgage Association.
A White House statement Tuesday indicated that Trump
intends to nominate Michael R. Bright to be the president of Washington-based Ginnie Mae.
Bright currently serves as executive vice president, chief operating officer and acting president of the government-owned
corporation. He first joined Ginnie in July 2017.
Previous jobs for Bright include trader on the servicing hedge at Countrywide Financial Corp., senior vice president at PennyMac Loan Services LLC and interest rate derivatives trader and MBS market-maker for Wachovia Bank.
Most recently, he was a director at the Milken Institute’s Center for Financial Markets.
From 2010 until 2014, Bright was a senior financial policy advisor for Sen. Bob Corker (R-Tennessee). Ginnie says on its website that Bright “was a principal staff author of S.1217, the ‘Corker-Warner’ GSE reform bill that passed the Senate Banking Committee the following year.”
In the White House statement, the president of Ginnie Mae was considered to be among
“key positions in his administration.”
